Decline in oil prices and gold because of the euro debt

Resulted in the issuance of successive reports indicate weak global economy, lower oil prices and gold, where the price of a barrel of oil U.S. crude for August delivery around 78.71 dollars in the markets of Asia today after falling $ 3.25, “Friday” in New York for around 78.20 dollars, while the price of European Brent crude mixture 89.92 dollars a barrel.

The U.S. light crude fell from $ 84 a barrel at the beginning of this week, falling by 26 per cent in less than two months because of weak indicators of the global economy and the European debt crisis, which weakens the demand for energy.

According to reports yesterday that industrial production for the U.S. and China is the largest energy consumers in the world has slowed down, at the same time the numbers showed an increase in global oil supplies.

Indicators also reflected the weak demand in the world on the price of gold, which fell in the markets of Asia today at about four dollars an ounce to 1562 USD/troy an ounce, where the price of gold, “Friday” by 2.5 per cent in the biggest drop in one day since late February.

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